Saudi Arabia launches Ceer EV brand with PIF, Foxconn

VERA Brief

AI-generated. Grounded in the article and its cited sources.

Saudi Arabia has launched Ceer, a new electric vehicle manufacturer. This company is a joint venture between the Public Investment Fund and Foxconn, aiming to develop and manufacture EVs within the Kingdom as part of its economic diversification strategy.

Key facts

• Saudi Arabia has established a new electric vehicle manufacturer named Ceer.
• Ceer is a joint venture between the Public Investment Fund and Foxconn.
• The company intends to develop and manufacture electric vehicles in Saudi Arabia.
• This initiative is part of Saudi Arabia's economic diversification strategy, Vision 2030.